PennyMac Mortgage Investment Trust (PMT) Hits New 12-Month High at $20.20
PennyMac Mortgage Investment Trust (NYSE:PMT)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $20.20 and last traded at $19.98, with a volume of 307172 shares. The stock had previously closed at $20.17.
Several research firms have commented on PMT. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Barclays lifted their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 25th.
The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $1.22 billion, a P/E ratio of 15.40 and a beta of 0.41.
In related news, Director Paul Dufauchard Jr. Preston sold 5,300 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $19.52, for a total value of $103,456.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marianne Sullivan purchased 3,015 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was bought at an average cost of $19.95 per share, for a total transaction of $60,149.25. The disclosure for this purchase can be found here. Insiders sold a total of 31,790 shares of company stock worth $605,990 in the last ninety days. 2.46% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in PMT. Rhumbline Advisers grew its stake in PennyMac Mortgage Investment Trust by 111.8% in the 1st quarter. Rhumbline Advisers now owns 148,085 shares of the real estate investment trust’s stock valued at $2,670,000 after buying an additional 78,158 shares in the last quarter. Comerica Bank purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $1,178,000. New York State Teachers Retirement System purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $620,000. SG Americas Securities LLC grew its stake in PennyMac Mortgage Investment Trust by 10.0% in the 1st quarter. SG Americas Securities LLC now owns 41,359 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 3,771 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $3,145,000. Institutional investors and hedge funds own 67.35% of the company’s stock.
About PennyMac Mortgage Investment Trust (NYSE:PMT)
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
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